Dozens turns off outgoing International Payments

With immediate effect and In response to the conflict. R-

To Russia, or to everywhere?

Everywhere

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Thanks

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Dozens explained a bit over here:

My take is that practicality no one is using Dozens for international payments right now, so this won’t hurt regular customers but will stop individuals opening accounts to try and get around sanctions. It probably also frees up the need for manual effort in both coding exceptions and reviewing for false positives (or negatives).

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They should already have the coding figured out, there’s always been people on various sanction lists, it’s not a new concept

Yeah, they’ll be checking against the UK sanctions list as normal, but the number of hits that will need human review will probably go up and I can see how that could hit a small startup hard. Clearly dozens has decided it’s not worth the effort/risk

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I’d imagine they just reject applications for people from sanction lists - but doubt they have logic for rejecting a whole country etc. so it’s a quicker (albeit extreme) solution.

As mentioned. I bet it’s due to very few people using it currently.

There’s a difference between allowing people on sanctioned lists to have an account, and screening outbound payments to ensure that you’re not transferring funds to sanctioned individuals.

Both are things a regulated financial institution must do.

This move means Dozens don’t need to review outbound international payments as there are no outbound international payments to screen.

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